Report of  2016

Table of  Contents

• INTRODUCTION 

• STATUTORY BODIES

• MAIN HIGHLIGHTS
  
  
  • Box - Primary market participants for 2017
    

• THE ECONOMY AND FINANCIAL MARKETS
  
  
  • Macroeconomic Context
    
  • Monetary Policy And Financial Markets 

• STATE FINANCING
  
  
  • Financing Strategy 
    
  • Secondary Market
    
  • State Direct Debt And Costs
    
    
    • Box - Floating Rate Treasury Bonds (OTRV)
      
    • Box: ECB's Public Sector Purchase Programme
      
      
• MANAGEMENT OF THE DEBT PORTFOLIO AND RISK LIMITS
  
  
  • Management Of The State’s Derivatives Portfolio
    
  • EPR Portfolios
    
  • Cash Management
    
  •  Cost Indicators
    
  • Risk Indicators
    
    
• ANNEXES

• Annex-1: Borrowing needs and sources in 2016
  
• Annex-2: Composition of financing in 2016
  
• Annex-3: Performance evaluation of participants in the portuguese government debt market
  
• Annex-4: Distribution of OT syndicated issues
  
• Annex-5: Movements in the state direct debt
  
• Annex-6: Cost of the state direct debt
  

• Abbreviations
  
  
•  COMPLETE VERSION
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